Effect Of Product Innovation On Market Performance Of Nestle Nigeria Plc (A Study Of Nestle Milo)

ABSTRACT

The study examined the effect of product innovation on market performance of Nestle Nigerian PLC. (A study of Nestle Milo). Its objective were to examine the effect of packaging on sales turnover, ascertain the effect of the branding on the profitability, To ascertain the effect of product modification on customer satisfaction in the study area. The study adopted sample descriptive statistics using questionnaire distributed to 120 respondent. The study adopted ANOVA to analyze the data generated for the study. It was discovered that product Innovation Brand name, have positive and significant effect on sales volume, profitability and market share. It is recommended that the management of Nestle Milo should lay more emphasis on packaging of Nestle Milo should lay more emphasis on packaging attribute to encourage patronage hence, increase in sales turnover, attention should also be given to brad name as it goes on long way to differentiate a product with other commodity, as well as periodic modification on certain areas.

TABLE OF CONTENT

Title page ﾿ i

Declaration ﾿ ii

Certification ﾿ iii

Dedication ﾿ iv

Acknowledgement ﾿ v

Table of content ﾿ vi

Abstract ﾿ vii

CHAPTER ONE

1.0 ﾿ Introduction ﾿ 1

1.1 ﾿ Background of the study ﾿ 1-2

1.2 ﾿ Statement of problem ﾿ 3

1.3 ﾿ Objectives of the study ﾿ 3

1.4 ﾿ Research questions ﾿ 3-4

1.5 ﾿ Research hypothesis ﾿ 4

1.6 ﾿ Significance of study ﾿ 4-5

1.7 ﾿ Scope of study ﾿ 5

CHAPTER TWO

2.0 ﾿ Literature review ﾿ 6

2.1 ﾿ Conceptual framework ﾿ 6-8

2.1.1 ﾿ Concept of innovation ﾿ 8

2.1.2 ﾿ Need for product innovation ﾿ 9

2.1.3 ﾿ New product development process ﾿ 9-10

2.1.4 ﾿ Idea Generation ﾿ 10-11

2.1.5 ﾿ Idea screening (Palmer, 2000) ﾿ 11

2.1.6 ﾿ Concept Development and testing (Palmer, 2000) ﾿ 11-12

2.1.7 ﾿ Business analysis (Palmer, 2000) ﾿ 12

2.1.8 ﾿ Product development and testing (Palmer, 2000) ﾿ 12-13

2.1.9 ﾿ Test Marketing (Palmer, 2000) ﾿ 13

2.1.10 ﾿ Commercialization (Palmer, 2000) ﾿ 13

2.1.11 ﾿ New product innovation ﾿ 14

2.1.12 ﾿ Ethical issues around product innovation ﾿ 14

2.1.13 ﾿ New product as a function of behavioral change ﾿ 15-16

2.1.14 ﾿ Product positioning ﾿ 16-17

2.1.15 ﾿ Market segmentation ﾿ 17

2.1.16 ﾿ Branding ﾿ 17-18

2.1.17 ﾿ Packaging ﾿ 18

2.2 ﾿ Empirical framework ﾿ 19-20

2.3 ﾿ Theoretical framework ﾿ 20-22

2.4 ﾿ Summary of literature review ﾿ 22

CHAPTER THREE

3.0 ﾿ Research methodology ﾿ 23

3.1 ﾿ Research design ﾿ 23

3.1.1 ﾿ Source of data ﾿ 23

3.1.2 ﾿ Method of data collection ﾿ 23

3.2 ﾿ Area of study ﾿ 24-25

3.3 ﾿ Population of the study ﾿ 25

3.4 ﾿ Sampling techniques ﾿ 25

3.5 ﾿ Sample size determination ﾿ 25

3.6 ﾿ Method of data analysis ﾿ 25

3.7 ﾿ Model specification    ﾿ 26

3.8 ﾿ Validity ﾿ 26

3.9. ﾿ Reliability ﾿ 26

CHAPTER FOUR

DATA PRESENTATION, ANALYSIS AND INTERPRETATION

4.1 ﾿ General Description ﾿ 27-31

4.2 ﾿ Hypotheses testing ﾿ 32-34

CHAPTER FIVE

5.1 ﾿ Summary, conclusion and recommendation from finding the 

following were deduced. ﾿ 35

5.2 ﾿ Conclusion ﾿ 35

5.3 ﾿ Management of Nestle Milo ﾿ 35

Appendix ﾿ 36

Research questionnaire ﾿ 37-38

References ﾿ 39